Pinshape Seeks $500,000 via Equity Crowdfunding Site Fundable for Expansion of 3D Printable Model Repository
There are few industries, if any, which have seen as many startups emerge over the last two years as that of the 3D printing industry. Each week it seems as if we are covering one or two new companies entering the space with innovative new approaches to the software, hardware, and community aspects of the industry. As these new startups launch, there is no shortage of opportunities for those looking to jump into the space via an investment. Where there are startups, there are always CEOs and directors looking to rapidly expand on their business models by seeking venture capital.
Last month MyMiniFactory announced that they would soon be turning to the equity crowdfunding markets via Seedrs to help them raise money to expand their 3D model and printing marketplace. Today we get word that yet another 3D printing related company, Pinshape, has launched their own equity crowdfunding campaign on the popular business crowdfunding portal Fundable.com.
“We’re growing like crazy and need to expand our team,” Lucas Matheson, CEO & Co-founder of Pinshape, explained to 3DPrint.com. “The growth on Pinshape has been significant over the past 6 months. We’re seeing 147% month over month growth and we need to expand our team. We have a lot of exciting plans on the road map to better serve our passionate community of designers, brands, and makers.”
Pinshape, a repository for high-quality 3D models for printing, allows designers to profit off of their work by offering up their 3D models either via a direct sales model or by securely streaming them directly to a user’s 3D printer. The platform also allows for designers to share their models with the community for free.
In addition to 147% month over month growth, the company also reports that they have seen 15%+ monthly user growth since their public launch in January 2015. With the desktop 3D printing space set to experience rapid growth, and some experts estimating the the total number of desktop 3D printers sold in 2018 will approach 2.3 million, Pinshape should continue their torrid growth rate.
“What we’ve learned over the past year is that quality is king. Failed prints frustrate everyone,” explained Matheson. “Pinshape is successfully attracting the best designers in the world and will continue to showcase the highest quality models possible through our platform.”
The company is seeking out accredited investors on Fundable who can fund a portion of the $500,000 they’d like to raise in this offering. They will be raising the funds on a convertible note with a $6M cap. This means that those who invest in the company via this offering will see their notes convert to equity at the end of the company’s Series A round, scheduled to take place sometime next year.
If you happen to be an accredited investor (someone with an individual income greater than $200,000 per year or joint income of $300,000 in the last two years, or have an individual or joint net worth greater than $1 million) and are interested in the 3D printing space, this offering may be just for you. Let us know your thoughts on this offering, and whether or not you intend to take part as an investor in the Pinshape Fundable forum thread on 3DPB.com.
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